Nautilus, Inc. (NLS) announced it has entered into and closed on a definitive purchase agreement to acquire Octane Fitness, LLC, a fitness products company, through the purchase of 100% of the capital stock of OF Holdings, Inc., Octane's parent corporation, from North Castle Partners, a private equity firm, and other stockholders. The purchase price was approximately $115 million. Octane Fitness, based in Brooklyn Park, Minnesota, is a leader in Zero Impact Training with a line of fitness equipment focused on specialty and commercial channels.
Nautilus expects the acquisition to be accretive to earnings beginning in the first quarter of 2016. In the fourth quarter of 2015, Nautilus expects $0.11 to $0.12 per share of one-time charges related to transaction costs, as well as other expenses related to patent licensing and royalty matters.
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